S&P - end of subprime writedowns is near

March 13 — Standard & Poor’s(S&P), the ratings company says the end of subprime writedowns is near. S&P reported Writedowns from subprime-tied securities will probably rise to $285 billion, or $20 billion more than S&P forecast two months ago. More than $150 billion have been reported already by banks, brokers and insurers. S&P raised its estimate as it assumes deeper losses on collateralized debt obligations. S&P’s report prompt a rally in U.S. stocks and a decline in Treasuries. But some people doubt the report, and believe that there should be further examination.